AVRO INDIA LIMITED has informed the Exchange about General Updates
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AVRO India's board, at its meeting on August 30, 2025, approved three key items. First, the notice of the 29th Annual General Meeting (AGM) to be held on September 30, 2025 at 1:00 PM via video conference. Second, the reappointment of M/s Chaturvedi & Company as Secretarial Auditor for five years starting April 1, 2025, subject to shareholder approval. Third, and most material, the company approved an investment of Rs. 39,76,21,872 (about Rs. 39.76 crore) by subscribing to 82,83,789 equity shares of its wholly owned subsidiary, Avro Recycling Limited, at Rs. 48 per share. The funds will be used to set up a greenfield plastic waste recycling project, drawing from the proceeds of a previous preferential issue. Avro Recycling was incorporated on May 14, 2025 and has not yet commenced operations.
The Rs. 39.76 crore investment in the new recycling subsidiary signals a strategic diversification into the plastic waste recycling business. Since this is funded from the preferential issue proceeds, it shows the company is putting those funds to work, which could be seen as a positive step. However, the new subsidiary is pre-revenue, so near-term financial impact on AVRO India will be limited. Shareholders should watch for updates on project execution and timelines.